{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/410/10/#05-overview-and-background","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","topic":"410","topic_title":"Asset Retirement and Environmental Obligations","subtopic":"410-10","subtopic_title":"Overall","section":{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"410-10-05-1","para":"05-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">The Asset <a href=\"/glossary/r/#retirement\" class=\"term\" title=\"The other-than-temporary removal of a long-lived asset from service. That term encompasses sale, abandonment, recycling, or disposal in some other manner. However, it does not encompass the temporary idling of a long-lived asset. After an entity retires an asset, that asset is no longer under the control of that entity, no longer in existence, or no longer capable of being used in the manner for which the asset was originally acquired, constructed, or developed.\"><span>Retirement</span></a> and Environmental Obligations Topic includes the following Subtopics:<ol class=\"ol-norm\"><li class=\"li-norm\"><span class=\"linum\">a</span><div class=\"p\">Overall</div></li><li class=\"li-norm\"><span class=\"linum\">b</span><div class=\"p\">Asset Retirement Obligations</div></li><li class=\"li-norm\"><span class=\"linum\">c</span><div class=\"p\">Environmental Obligations.</div></li></ol></div></div>","snippet":"The Asset Retirement and Environmental Obligations Topic includes the following Subtopics:\n(a) Overall\n(b) Asset Retirement Obligations\n(c) Environmental Obligations.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:eac90cabe47557b1792db4fa53ebe18946b82666ab5a0dadbdc4f68a86aea8c5","downloaded_from":"2026-09-10T00:20:34.133Z","last_downloaded_at":"2026-09-10T00:20:34.133Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481722","source_sha256":"83943549d99cff5474d99061d92129f9e7026345880f922c84b0fa992a984e83"}},{"citation":"410-10-05-2","para":"05-2","html":"<div class=\"asc-body\"><div class=\"norm-text\">The sole purpose of the Overall Subtopic is to explain the differences between the other two Subtopics. Subtopic <a altsource=\"GUID-4E041047-932A-4278-AD3B-0D0EF4B282B9.ditamap\" class=\"ditamap\">410-20</a> provides guidance on accounting for and financial reporting of a liability for an asset retirement obligation (and the associated asset retirement cost) and an environmental remediation liability that results from the normal operation of a long-lived asset (see paragraph <a href=\"/asc/410/20/#410-20-55-7\" class=\"xref\">410-20-55-7</a>). Subtopic <a altsource=\"GUID-B703DF4B-EE18-458A-8968-CCC3E8B5936E.ditamap\" class=\"ditamap\">410-30</a> provides guidance on accounting for and financial reporting of environmental remediation liabilities.</div></div>","snippet":"The sole purpose of the Overall Subtopic is to explain the differences between the other two Subtopics. Subtopic 410-20 provides guidance on accounting for and financial reporting of a liability for an asset retirement o…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fc3a49370fc1fe21f3cfa17c8192b9861ce07326d61c9fce2d90d6f6b83abf1f","downloaded_from":"2026-09-10T00:20:34.133Z","last_downloaded_at":"2026-09-10T00:20:34.133Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481722","source_sha256":"83943549d99cff5474d99061d92129f9e7026345880f922c84b0fa992a984e83"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c7675ad9653f5bfe3177ef0ef17457606d6c719f6f9b63d410ffb184615d065c","downloaded_from":"2026-09-10T00:20:34.133Z","last_downloaded_at":"2026-09-10T00:20:34.133Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481722","source_sha256":"83943549d99cff5474d99061d92129f9e7026345880f922c84b0fa992a984e83"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:dca9f7bbecf86fb186dabcb6b9719bce3693530d367dfba09250e4dc41c2afed","downloaded_from":"2026-09-10T00:20:34.133Z","last_downloaded_at":"2026-09-10T00:20:34.133Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481722","source_sha256":"83943549d99cff5474d99061d92129f9e7026345880f922c84b0fa992a984e83"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:dca9f7bbecf86fb186dabcb6b9719bce3693530d367dfba09250e4dc41c2afed","downloaded_from":"2026-09-10T00:20:34.133Z","last_downloaded_at":"2026-09-10T00:20:34.133Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481722","source_sha256":"83943549d99cff5474d99061d92129f9e7026345880f922c84b0fa992a984e83"}}